Next Capital Management LLC Takes $222,000 Position in Coinbase Global, Inc. (NASDAQ:COIN)

Next Capital Management LLC purchased a new position in shares of Coinbase Global, Inc. (NASDAQ:COIN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 895 shares of the cryptocurrency exchange’s stock, valued at approximately $222,000.

Several other institutional investors also recently added to or reduced their stakes in the company. SOA Wealth Advisors LLC. boosted its holdings in shares of Coinbase Global by 17.7% in the fourth quarter. SOA Wealth Advisors LLC. now owns 266 shares of the cryptocurrency exchange’s stock valued at $66,000 after acquiring an additional 40 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in Coinbase Global by 4.3% during the fourth quarter. Farther Finance Advisors LLC now owns 964 shares of the cryptocurrency exchange’s stock worth $239,000 after purchasing an additional 40 shares in the last quarter. Empowered Funds LLC lifted its position in Coinbase Global by 0.8% in the third quarter. Empowered Funds LLC now owns 5,185 shares of the cryptocurrency exchange’s stock valued at $924,000 after purchasing an additional 43 shares during the period. Yousif Capital Management LLC boosted its holdings in Coinbase Global by 1.7% in the 4th quarter. Yousif Capital Management LLC now owns 2,559 shares of the cryptocurrency exchange’s stock valued at $635,000 after purchasing an additional 44 shares in the last quarter. Finally, Capital Advisors Wealth Management LLC increased its position in Coinbase Global by 3.2% during the 4th quarter. Capital Advisors Wealth Management LLC now owns 1,470 shares of the cryptocurrency exchange’s stock worth $365,000 after purchasing an additional 45 shares during the period. Institutional investors and hedge funds own 68.84% of the company’s stock.

Insiders Place Their Bets

In other Coinbase Global news, CEO Brian Armstrong sold 25,000 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $261.07, for a total value of $6,526,750.00. Following the sale, the chief executive officer now directly owns 526 shares of the company’s stock, valued at approximately $137,322.82. This trade represents a 97.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul Grewal sold 10,978 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $211.93, for a total transaction of $2,326,567.54. Following the transaction, the insider now directly owns 83,313 shares of the company’s stock, valued at approximately $17,656,524.09. This represents a 11.64 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 219,455 shares of company stock valued at $60,955,968. Company insiders own 23.43% of the company’s stock.

Analysts Set New Price Targets

COIN has been the subject of several recent analyst reports. The Goldman Sachs Group reduced their price target on Coinbase Global from $397.00 to $340.00 and set a “neutral” rating for the company in a report on Friday, January 10th. JMP Securities boosted their target price on shares of Coinbase Global from $400.00 to $475.00 and gave the stock a “market outperform” rating in a research report on Friday, February 14th. Canaccord Genuity Group increased their price target on shares of Coinbase Global from $280.00 to $400.00 and gave the company a “buy” rating in a report on Friday, February 14th. Mizuho reduced their price objective on shares of Coinbase Global from $280.00 to $217.00 and set a “neutral” rating for the company in a research note on Tuesday, March 11th. Finally, Needham & Company LLC restated a “buy” rating and set a $330.00 target price on shares of Coinbase Global in a research report on Thursday, February 13th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Coinbase Global has an average rating of “Moderate Buy” and an average price target of $322.78.

Coinbase Global Stock Down 4.1 %

COIN opened at $181.14 on Wednesday. The firm has a market cap of $45.99 billion, a P/E ratio of 19.07 and a beta of 3.66. The business’s fifty day simple moving average is $251.44 and its 200 day simple moving average is $241.13. Coinbase Global, Inc. has a 52 week low of $146.12 and a 52 week high of $349.75. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.41.

Coinbase Global (NASDAQ:COIN) last released its quarterly earnings results on Thursday, February 13th. The cryptocurrency exchange reported $3.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $2.93. Coinbase Global had a net margin of 39.34% and a return on equity of 20.64%. As a group, equities research analysts anticipate that Coinbase Global, Inc. will post 7.22 EPS for the current fiscal year.

Coinbase Global Profile

Coinbase Global, Inc provides financial infrastructure and technology for the crypto economy in the United States and internationally. The company offers the primary financial account in the crypto economy for consumers; and a marketplace with a pool of liquidity for transacting in crypto assets for institutions.